Theory question 108
Retail TradeCommerce 2 (essay)
(a) List four types each of:
(i) small scale retailers;
(ii) large scale retailers;
(b) Explain four reasons why small scale retailers survive despite the dominance of large scale retail outlets.
Show the model answer
(a)(i) Any four: hawkers/itinerant traders; market traders/stall holders; kiosks; mobile shops; roadside traders; tied shops; unit shops.
(ii) Any four: department stores; supermarkets/hypermarkets; chain (multiple) stores; mail order firms; co-operative retail societies; discount stores.
(b) Any four, explained: personal attention to customers; sell on credit to known customers; sell in very small quantities; convenient location close to homes; long, flexible opening hours; low capital needed and low costs; customers can bargain; deliver to customers' homes.
Survival reasons are mainly about personal service and convenience.